Nortel Calls It Quits, Gives Up On Restructuring
Nortel Networks, currently in bankruptcy protection both in the U.S. and Canada, has said that it will no longer attempt to restructure and revive its business. Instead, it will attempt to sell the remaining business units off. This news follows closely the recent announcement that Nokia Siemens Networks will purchase Nortel's CMDA / LTE businesses for $650 million. Nortel has not named suitors for its other business units. The company was once one of the premiere providers of networking equipment to wireless network operators, but a series of financial issues weakened it considerably before the worldwide economic downturn further crippled it. Nortel did not provide any information about how long it expects to continue operations, nor when it will permanently close.
Nokia Networks to Buy Panasonic's Base Station Biz
Nokia Networks today announced that it has agreed to purchase select portions of Panasonic's wireless business. Specifically, the company will buy Panasonic's mobile phone wireless base station and related wireless equipment system businesses.
Sony Scoops Up Altair, Merges Entertainment Businesses
Sony has agreed to purchase Altair Semiconductor for $212 million in a move meant to help shore up its chip business. Sony has invested heavily in building production capacity to meet demand for mobile components, such as smartphone camera sensors.
BlackBerry Sues Nokia Over Patents
BlackBerry filed a patent infringement lawsuit against Nokia this week. BlackBerry claims Nokia is using its patented technology in select telecommunications equipment that Nokia sells to network operators, such as T-Mobile, without the proper licenses.
Apple's Patent Consortium to Sell 4,000 Patents for $900M
Rockstar Consortium, a patent-holding company headed by Apple, has agreed to sell more than 4,000 mobile patents for about $900 million. Apple and partners Microsoft, BlackBerry, Ericsson, and Sony paid $4.5 billion for more than 6,000 patents from Nortel four years ago in order to help protect against litigation.
Nortel Going Down
If you asked me 4 or 5 years ago that Moto would still be around and Norte...